Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.24.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2024
Jun. 30, 2024
Current assets:    
Cash and cash equivalents $ 24,525,956 $ 19,127,165
Accounts receivable, net of allowance of $15,533 and $398,809 5,936,063 13,049,614
Revenues in excess of billings, net of allowance of $460,743 and $116,148 12,743,571 12,684,518
Other current assets 3,328,112 2,600,786
Total current assets 46,533,702 47,462,083
Revenues in excess of billings, net - long term 866,388 954,029
Property and equipment, net 4,847,869 5,106,842
Right of use assets - operating leases 1,216,835 1,328,624
Other assets 32,341 32,340
Goodwill 9,302,524 9,302,524
Total assets 62,799,659 64,186,442
Current liabilities:    
Accounts payable and accrued expenses 8,414,790 8,232,342
Current portion of loans and obligations under finance leases 6,443,937 6,276,125
Current portion of operating lease obligations 590,541 608,202
Unearned revenue 6,923,112 8,752,153
Total current liabilities 22,372,380 23,868,822
Loans and obligations under finance leases; less current maturities 92,638 95,771
Operating lease obligations; less current maturities 594,631 688,749
Total liabilities 23,059,649 24,653,342
Stockholders’ equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 12,383,872 shares issued and 11,444,841 outstanding as of September 30, 2024 , 12,359,922 shares issued and 11,420,891 outstanding as of June 30, 2024 123,842 123,602
Additional paid-in-capital 128,709,890 128,783,865
Treasury stock (at cost, 939,031 shares as of September 30, 2024  and  June 30, 2024) (3,920,856) (3,920,856)
Accumulated deficit (44,141,518) (44,212,313)
Other comprehensive loss (46,049,023) (45,935,616)
Total NetSol stockholders’ equity 34,722,335 34,838,682
Non-controlling interest 5,017,675 4,694,418
Total stockholders’ equity 39,740,010 39,533,100
Total liabilities and stockholders’ equity $ 62,799,659 $ 64,186,442